Michelin, governments commit $300M to expand company facilities in N.S. | CBC News

Michelin and the federal and provincial governments have announced they will spend $300 million to expand the company’s facilities in Nova Scotia, which could create dozens of new jobs at its Bridgewater plant.

The tire manufacturing company said it would spend $140 million on the Bridgewater plant, and an unfinalized agreement with the federal government could see the company receive an additional $44.3 million in funding through the Strategic Innovation Fund.

Michelin will also receive a provincial tax credit of about $61.3 million over five years from the province to help fund the expansion.

The CEO and president of Michelin North America, Alexis Garcin, said the company’s investment would create an estimated 70 new jobs at the Bridgewater plant. 

“We know that a thriving and growing manufacturing family here in Bridgewater contributes to thriving schools, businesses, sports, arts and culture across generations in the communities around this plant,” Garcin said.

Prime Minister Justin Trudeau said a modernized Bridgewater plant will produce tires for the growing electric vehicle market.

Trudeau said the changes will benefit not only the economy, but the environment as well.

“I know for Canadians, the environment matters deeply. But the fight against climate change for decades was always put in the context of, ‘Oh, well, you can either protect the environment or you can grow the economy. You can’t do both together.'”

But Trudeau said more companies from around the world are now investing in Canada to produce goods with clean energy. 

“We don’t have to choose between the environment and the economy. What we’re building here and across the country makes it obvious that protecting the environment and growing the economy go hand-in-hand.”

Some of the money will also flow to Michelin’s plants in Pictou and Waterville.

The company employs about 3,600 people in Nova Scotia.